KUALA LUMPUR: SapuraKencana Petroleum Bhd has locked in several contracts in four different countries with a combined value of US$269 million (RM969 million).

In a filing with Bursa Malaysia yesterday, SapuraKencana said it has been awarded the installation of structures and superstructures of mixed marine platforms, pipelaying and lifting of major power generation equipment in the Gulf of Mexico through its subsidiary SapuraKencana Mexicana SAPI de CV.

The contract was awarded by Pemex Exploración y Producción and is valued between US$41.2 million and US$98.1 million.

The job, which marks the start of SapuraKencana’s local operations in Mexico, requires the usage of its DP3 heavy-lift and pipelay vessel SapuraKencana 3500.

Closer to home, SapuraKencana’s subsidiary SapuraKencana TL Offshore Sdn Bhd (SKTLO), in consortium with PT Encona Inti Industri in Indonesia, was awarded the work of offshore and onshore pipeline installation in respect of the construction of Kalija 1 natural gas transmission pipeline of Kepodang-Tambak Lorok Segment in Indonesia.

The award was given by PT PGAS Solution and valued at US$97.5 million. SapuraKencana said the work will be performed in Muriah PSC, Central Java, Indonesia. 

Meanwhile, the group said 

SKTLO has also been awarded three separate contracts in Vietnam and one in India, for a total value of US$73.5 million.

SapuraKencana said the first contract SKTLO secured in Vietnam is for the installation of nearshore and offshore pipeline for the Thai Binh — Ham Rong gas distribution and gathering system project, phase 1. The second contract is for the provision of services for the installation of the H5-WHP topside and pipelines for Te Giac Trang field development project, located in Block 16-1, off Vietnam, while the third job is for the provision of services for the installation of offshore facilities for the Thai Binh project blocks 102 and 106. All three contracts in Vietnam were from PTSC Offshore Services Joint Stock Co.

In India, BG Exploration and Production India Ltd awarded SKTLO with the provision of transport and installation services for the PB gas lift riser replacement project at the Panna offshore field, some 95km off north-west Mumbai, India.

SapuraKencana (fundamental: 1.30; valuation: 1.40) said the awards are expected to contribute positively to its earnings and net assets per share for the financial year ending January 2016 (FY16).

This article first appeared in The Edge Financial Daily, on May 12, 2015.